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Social Networking - Tuesday, June 17, 2008

Facebook App Rollup I2we Raises 1st Round

Berkeley-based i2we has raised $750K in Series A funding led by IDG Ventures, says Pehub. The company was founded by Karel Baloun, who says he was the first senior engineer at Facebook. He was with Facebook for just 1 year from 2005 – 2006 and went on to found Ptrades which is building a community around free paper trading of commodity and Forex futures. He is also the author of a book called Inside Facebook. http://fbbook.com/fblog/.

I2we says it has over 225 applications on Facebook with over 1.5M members. Its simple applications include things like I Am Green, I am teacher, etc.

With I am Green, members list the green actions they are taking to combat problems or pledge their green responsibility goals and share these ideas with other members.

Looking at the applications, it strikes us that this is business is similar to the domainer business. There is not much to the applications but they are trying to be first in these categories and to get users before others do. We can't image that I2we will be the biggest green app on Facebook in a few years and the biggest running app and mommie app. But they may be able to sell their members and app to someone else.

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